Comfort can wait, but time will not. Instead of putting out a lump of your earnings out to your comfort needs, you could invest them at the right place. So, the people you care about can avail those saved assets. An insurance plan needs to be chosen- based upon the term benefits and rewards. Investing in long term plans today can lead to a lustrous life tomorrow. We do need an investment policy, in which we could invest, get insured and enjoy unlimited profits at the same time.
Unit Linked Investment Plans (ULIPs) appear to be one of the pre-eminent choices for such investments that provide marvellous profits and life cover at the same time. These insurance policies are strategically figured out, to provide the policyholder with long term and the most consistent benefits and profits – blended with the perfect dosage of extensive insurance coverage. A ULIP calculator provides a further prominent option to choose an investment plan quite easily and in an efficient way.
Why to Choose ULIP Plans?
In these policies/plans, the money assured is invested in the stock market, in terms of ‘units’. These units are marketed with various stockholders and this marketing helps the policy to gain a huge return/reward on its equity value. The motto of an ULIP is to help your money being invested in various stock markets and as the policy’s term stays unharmed – it provides guaranteed policy coverage throughout life. The key benefits to investing in ULIPs are:
- Long term transparent benefits and bonuses
- User-friendly features and economical charges/fees.
- It also has much flexibility of choice in premium payment terms.
- Additional Insurance plans such as Riders and risk-takers
- Top-up plans are available too
- Extensive tax benefits (under Section 80c and section 10(10D) of the Indian Income Tax Act,1938) on both premium payments and maturity benefits
How to choose a ULIP Plan? Can ULIP Calculators help in choosing such a plan?
- First of all, make sure about planning different types of investments in a year. Decide how much you can invest over your life insurance, so that it turns out to be satisfactory both in terms of an investment and policy coverage. By using the ULIP calculator, the best-in-budget and the most economical insurance plans could be found.
- Check out your financial risks and disabilities and if you have some- try investing in a plan that’s linked more with equity. In such cases, it’s advised to keep an eye on all available equity based policies and choose the one that’s the most suitable.
- Decide what kind of policy would you like investing into and have a straight look at all of such plans using the ULIP calculator, at the comfort of your home. From the enlisted plans, select the one that’d suite you best for your family’s needs.
- Have a look at the various fees /charges ascertained by the insurer over a particular policy. These may include: premium and management fees, surrender charges, etc. Most of the ULIP calculators facilitate displaying of the overhead charges linked with a certain policy.
BENEFITS OF USING ULIP CALCULATORS:-
ULIPs are much different from rest of the insurance policies and feature a set of standalone benefits that appear to be the most legitimate ones. Be sure to check the market performance for each and every plan that you have shortlisted. Each plan needs to be evaluated to a proper extent, in order to choose the most suitable one. ULIP Calculator turn out to be one of the biggest helping hands in such cases.
Key features of ULIP Calculators:-
- Available on most of the insurance companies sites and is easily accessible through any internet – linked device.
- Broad list of options to choose from – any investment policy should be investigated twice as effectively, before investing to it.
- It helps you calculate the long term benefits of an ULIP plan.
- No confidential information is to be provided; only a couple of general queries such as date of birth, etc., should be evaluated.